Farmer Finance / Agriculture Loan/ Krishi Loan

ICICI Bank offers a range of agriculture loans. You can use our overdraft facility to meet the cost of cultivation and working capital activities for farming and allied activities. We also offer term loans for buying cattle, purchase of equipment for irrigation and other agricultural requirements.

What are the types of agriculture loans available for me?

Farmer Finance supports you using a whole farm approach – support in all aspects of agriculture. Our agriculture loans meet your both short term and long term credit needs.

Retail Agri Loan - Kisan Credit Card / Kisan CardKisan Credit Card (KCC) is a specially designed credit card for farmers. This card gives you the facility of a hassle free and convenient credit to meet your day to day farming requirements.

Long term Loan for agriculture & allied activities (Agri Term Loan)You can get term loans to buy cattle or agriculture equipment as a part of the Agricultural Term Loan (Agri TL) scheme from ICICI Bank. Repay these loans over a period of 3-4 years in monthly/Half yearly/ Yearly instalments as per your convenience.You get multiple benefits with ICICI Bank Agriculture loans:

Simplified documentation

Easy and convenient loan

Flexible loan repayment options based on your income

Attractive interest rates

No hidden charges

Quick processing

Non-mortgage loans are also available

What are the benefits of availing the Kisan Card / Kisan Credit Card facility from ICICI Bank?

ICICI Bank Kisan Credit Card comes with a host of benefits, some of which are:

Convenient banking: You need not to compromise with your day to day work while banking with us. Experience the new age banking with ICICI Bank through large branch & ATM network with 24*7 customer care support

Wide network: ICICI Bank Kisan Credit Card can be used at any bank’s ATM apart from ICICI Bank’s large coverage of 10,000+ ATMs across the country

Card limit: The Kisan Credit Card limit is sanctioned for 5 years with one time documentation and shall be renewed every year based on your farming requirements

What is the eligibility criteria to apply for ICICI Bank Kisan Card / Kisan Credit Card?

Following are the basic requirements to avail Kisan Credit Card from ICICI Bank:

The applicant should be in the age group of 18-70 years

Owns a piece of agricultural land

What are the documents required to apply for Krishi Loan / Kisan Card?

You need to submit the following documents while availing the loan:

Simplified application form

KYC Documents

Land documents

Security PDC

Any other document, as per sanction condition

What is the interest rate and processing fee?

Interest charges for Farmer Loans

Product

Minimum

Maximum

Mean

Kisan Credit Card

09.30%

13.25%

12.42%

Agri Term Loan

10.00%

15.33%

14.70%

Notes:

The range of interest rate provided is with respect to individual loans disbursed between April 1, 2019 to June 30, 2019.

Mean rate - Sum of rate of all loans/number of loan accounts

The rate of interest is dependent on credit assessment parameters of the bank

Data excludes lending done under the crop loan subvention schemes of the government

Schedule of charges

Description of Charges

Facility Type

Charges / Fee Amount

Foreclosure Charges*

Kisan Credit Card

4 % on limit for account closed within 1 year from account opening date

Agri Term Loan

Nil

Processing Fees

Kisan Credit Card

Up to 2% of initial sanction at the time of disbursementUp to 0.50% of the sanction limit at the time of review with enhancement or upto 0.25% of the sanction limit at the time of review without enhancement of the account

Agri Term Loan

Up to 2% of sanction limit at the time of disbursement

Late Payment Penalty

Kisan Credit Card

2% per month on overdue amount at the time of loan regularisation

Agri Term Loan

2% per month on overdue amount at the time of loan regularisation

Stamp Duty and other statutory charges

All

At actuals as per applicable laws of the State at the time of loan processing

₹ 2000 per case for cases where valuation of residential or commercial property is done

Overdue Charges (31 DPD to 90 DPD#)

New and old customers

₹ 500 on non repayment of interest post 30 days after interest debit.

Overdue Charges (90+ DPD#)

New and old customers

₹ 1000 on non repayment of interest post 90 days after interest debit.

*#DPD : Days Past DuesCharges and Penal Interest would not be levied on loans amounting up to ₹25,000 for Agricultural purpose.

**Charges which are in nature of fees are Exclusive of GST.GST and other government levies, as applicable, would be charged additionally.

Moving to a new address? Update us and stay connected.

In the event of a change in your address, on account of relocation or any other reason, you should intimate the bank within 2 weeks of such a change. Any such intimation/request for change in address should be accompanied with a valid address proof.